About this Show

The Willis Report

News/Business. Host Gerri Willis. New.

NETWORK

DURATION
01:00:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Virtual Ch. 130 (Fox Business)

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
704

PIXEL HEIGHT
480

TOPIC FREQUENCY

Us 8, Chicago 8, America 7, Romney 5, Nevada 4, U.s. 4, China 4, New York 3, Humana 3, Michael Moore 3, California 2, Obama 2, Rahm Emanuel 2, North Carolina 2, Tony Mack 2, Dinesh D'souza 2, Paul Ryan 2, Gerri 2, Solyndra 2, John 2,
Borrow a DVD
of this show
  FOX Business    The Willis Report    News/Business. Host  
   Gerri Willis. New.  

    September 10, 2012
    6:00 - 7:00pm EDT  

6:00pm
>> unless you're talking very loudly and annoying the person. >> exactly. i have seen so many people do that. melissa: you guys are a lot of fun, thank you so much for that is all the "money" that we have today. we will see tomorrow. "the willis report" is coming up next. gerri: hello, everybody, i am gerri willis great while most kids are coming home after school activities and sports, many never even went to school today because they're teachers chose to be on the picket line. instead of in the classrooms. after rejecting the city scale where they put a halt to the country's third-largest school district. with more on this, john fund, senior editor of the american spectator. i have to say, i think that people look at this and they say see that paid at the chicago
6:01pm
teachers are getting, which is higher than any other district in the country, it is shocking to see that abandoning these kids is going on. when you make of it? >> there are a lot of good, dedicated teachers in the chicago system. but the current union work rules and the restriction on them being good teachers make it very difficult to do the best job for the kids. something like 15% of fourth graders are reading at proficiency level in chicago. if you are entering a freshman high school class, only 56% of the people who enter as freshman graduate as seniors. this is unacceptable. having said that, the average salary of a family in chicago is $47,000 per year. the average teachers now reaches $76,000 per year and that doesn't even include benefits. there is clearly a mismatch. we are spending too much money in the wrong areas and not giving enough results. notice the charter schools and private schools and parochial schools. those kids went into school
6:02pm
today. gerri: i think exactly. teachers are only paying 3% of their health care benefits in chicago. i mean, do you have this ironic situation where rahm emanuel, former adviser to the president is now fighting with unions over pay packages. they are seeing the realities. the reality has to do with the ability to fund these expensive programs. let's keep in mind that the negotiations were continuing for hours this afternoon. is this problem with pay -- is it with benefits. where is the sticking point? >> i think it is ultimately beyond the negotiation of the city. that is choice. we need choice. charter schools are doing a pretty good job, but there are far too few of them. parents need more choices. teachers need the ability to be good teachers. just last year, you know, the teacher of the year in nevada
6:03pm
and new york were fired or whoever they fired, because they were last in the seniority system. the system doesn't make any sense. what i think we need to do is pay teachers well, but we have to expect a lot from them, including results better than 56% high school graduation. one of the things that teachers are protesting are the teacher evaluation process. they say it's not fair for them to be evaluated by the people consuming their products, i guess you could say. don't we have to get some kind of market-based metrics, sometime unsent some kind of way of evaluating into the public schools of you could prove them ultimately, so that if you can't up for the private school, you can still go to publix will have a decent education. >> the union and the teachers agreed to those evaluation standards earlier this year. now they are trying to take them back. the bottom line is let's have them in place for a while and judge teachers in large part by how the students perform. that is one way to judge them. no one is talking about firing
6:04pm
teachers. but we can identify the teachers they need help and need training in order to become good teachers. gerri: we should remind people that the chicago public schools have a deficit of some $3 billion. over the next three years. this is a system that has a big financial problems. rahm emanuel is calling this a strike of choice. they are so close on money, he says, that the teachers are just choosing to strike. is there going to be some kind of way that public employees and workers can come to some kind of middle ground with people who are managing the country, cities, towns, public schools, you know, fire departments, to find common ground so that we can find systems that work? >> it is inevitable because the cities are going bankrupt. mayor emanuel put on the table is 16% salary increase over four years. how many of your viewers are
6:05pm
getting a 16% increase over the next few years? very few. the teachers, public employees are going to have to give back and also get similar flexibility so they cannot be bound by these ridiculous rules. and if we don't do that, i can tell you where we're going to go. we're going to go to more privatization. the units are not going to like that. gerri: john fund, thank you for coming on tonight. we appreciate your time. now we want to know what you think. is the chicago teachers strike for the kids or for the teachers? la mancha gerriwillis.com. vote on the right-hand side of the screen and i will share the results of the end of the show. meanwhile, taxpayers are on the hook for the failed government bailout program. news today that the treasury plans to sell a big chunk. $18 billion, to be exact, which is more than half of its current state. meaning government will now become a minority investor for the first time since it rescued the world's largest insurer at
6:06pm
the height of the financial crisis. of course, the coming of all this is raising a few eyebrows. less than 60 days before the election. while this may be a step in the right direction, we are all taxpayers on the hook. bailout recipients. take a look at these folks, including more than 300 small banks. joining me now, mr. peter murray. i can't wait to hear what you're going to say about this. is this a political move here? >> absolutely. look at the timing. a week after the democratic convention, mr. obama wants come up with something to talk about every week. to keep our focus away from the terrible jobs numbers, the sorry state of the economy, and frankly all the nonsense that continues to go on on wall street. gerri: nonsense is right. the government is cutting its stake. cutting the state and half have now. that is certainly good news. will this lead ultimately -- how soon can we untangle the rest of
6:07pm
us. >> i was thinking over the next year or two they can do that. aig is doing quite well. it just gone into this terrible habit of ensuring these mortgage-backed securities through a separate entity. and i think that aig has a bright future as an independent company. >> they still owe the federal government money, that include a number of things including allied financial, 300 small banks still a less money. fannie and freddie, the biggest of these. this is coming to me, the big kahuna. how do we get out of this one? >> it's going to be very difficult. look at general motors. it is producing cars to make mr. obama happy. losing probably more than $10,000 per car easily. it's very interesting to see. if you don't think this is politically motivated, why is he not trying to sell his share of
6:08pm
general motors. the answer is because he doesn't want to try. gerri: to talk about the chevy volt. we backed it, let's talk about that. nobody wants to buy it. what does this tell you about the government picking winners and losers? >> the government has picked a succession of losers, whether it is solyndra, when mills, ethanol, all these things that the private sector won't do, not because it's bad and evil but because they don't make economic sense. if general motors had gone for the kind of chapter 11 that said bethlehem steel had gone through, during the bush administration, without government subsidies, they wouldn't be making the vote today and they would be a lot healthier. they would be making sensible cars and a profit. [laughter] gerri: you mentioned the news today. the chevy is losing almost $50,000 for every vote that it
6:09pm
sells. and gm is pushing back today saying it's not true. but i have to tell you, almost every journalist that covers this and saying yeah, that is true. they are losing a ton of money on these cars. which brings up the thought here, which is that why should you do the right thing is the ceo of an american company and you know that your if you're big enough, you're going to get bailed out. if you look at the banking sector, we've actually made the banking sector bigger. if we have another recession in 2013, which is, you know, more than a 0% probability. can they make cars and profit? >> i'm very confident that the ford motor company, even though it is burdened by debt, it can make a profit at a much reduced market. i don't know the general motors can do that. that is what comes with a
6:10pm
hothouse industry, this industrial fallacy, the nanny state, and frankly, bailing out the unit because it puts feet on the ground for mr. obama when he's running for office. >> peter, i knew you would speak your mind. i wasn't worried about that. thank you for coming on tonight. >> take your. gerri: if you are fired up about this or any other issues on the program, drop me an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", solar installations are soaring in the u.s. but what is the key for taxpayers? with their dollars on the line. gerri is following every cent. the streak is over as president obama tops ronnie's fundraising last month. it is this just a blip in the money race or should the romney team start to worry? our political panel reacts. as we move closer to election day, this documentary has become a blockbuster hit. the author of "obama's america" is here to discuss his book.
6:11pm
so anyway, i've been to a lot of places.
6:12pm
6:13pm
you know, i've helped a lot of people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance.
6:14pm
gerri: a new report out today from the solar industry tracks a surge in the use of solar panels. u.s. solar installation more than doubled in the second quarter of this year. and the report said it's up 116%. in total, the u.s. has 57 megawatts of solar capacity and up to power more than 947 households. that's great, right? but that's still less than 1% of the homes in the country. unfortunately, almost all of those solar panels are not made overseas, mainly in china. that has been the trend for some time. china is making more and we are making less. in fact, china over tech u.s. sometime ago. supply nearly half of the worlds of solar panels, up from one fifth in 2008. the u.s. now makes just 3%.
6:15pm
that is down 7%. the trend is not our friend. still, the obama administration is not shying away from throwing taxpayer dollars into solar projects. despite the solyndra disaster were half a billion dollars in extra money went right down the drain. you remember that? the white house fast tracking the numbers of solar projects in california, arizona, and nevada. many of these plants are so-called utility scale projects. solar farms designed to create power for a few hundred thousand homes or more. this is where most of the businesses. today's report says more than half was at large commercial or utility scale projects. just 16% went to private homes or small businesses. in fact, the vast majority is not in manufacturing of jobs, it is installation. the rate of growth is going to grow dramatically in the coming years. from 71% this year to 21021% in 2013.
6:16pm
here is the reason. government money is drying up. many states are now reaching government mandates on the amount of renewable energy that they must buy. so where does that leave the plans that you hope to build? this is where government comes in again. take nevada, where as i said, the feds are fast tracking projects and where a lot of your money has already gone to solar. listen to this. under kerry reid is pressuring his state's and nv energy is slated to be built by enn engery in china. the chinese company's executives are top contributors to senator reid's political action committee. of course, the chinese also hired the law firm where his son works. right? so my friends, if you thought it
6:17pm
crony capitalism died with solyndra, the sun rises and sets every day over the desert plains of nevada. crony capitalism. solar business is alive and well. it is a claim being presented in the new film, 2016. filmmaker joins me at the bottom of the hour and it's all about the money in this month, president obama came out on top. with romney winning the fundraising fund-raising war. our political panel comes up next. [ male announcer ] wouldn't it be nice if there was an easier,
6:18pm
less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to legalzoom.com today for personalized, affordable legal protection. [ slap! slap! slap! ] [ music, laughter stop ] [ male announcer ] when your favorite foods fight you, fight back fast with tums smoothies. so fast and smooth, you'll forget you had heartburn. ♪ tum tum tum tum tums [ male announcer ] tums smoothies.
6:19pm
gerri: coming up next, key swing states are tipping into the president's favor. will his reelection dreams come crashing down
6:20pm
6:21pm
gerri: president obama getting a boost over mitt romney in the polls. but should he banked on the trend to continue? we will ask rich lowry, editor of the national review. i want to ask you both, starting with doug. the president on a big bump at his convention. mitt romney, not so much. >> it is about a 5.5, ultimately, for the president, part of it is bill clinton. a little bit of it is michele obama. the smallest component is barack obama himself and his speech. >> there's a big bill factor, is in their? >> besides michelle obama at the convention, i thought clinton was too self-indulgent, but it turned out to be like one of his state of the union addresses where the germans on that people like is when the discussion. i thought obama was flat. apparently it doesn't matter. we need to wait a week and a half to get a true sense.
6:22pm
>> once said that we do know about his is ohio. obama, mitt romney, 50%, 40% to mitt romney. is this only logical, a state that is highly unionized. >> especially the kids come and i said this rich or poor, that the romney campaign has yet to articulate to employee working people. if the romney campaign had relied on what has been on your pages and not on wall street journal editorial pages,. >> but the 50-point plan that everybody discounted and thorough way. it was too complicated for the journalists out there. does he have it right? >> he has welded onto a five-point plan. but i think it turns out that he didn't spend enough time out of convention making the case for his program, which opened up the democrats to savage his program
6:23pm
last week. the fact of the matter is conditions are not so bad that in and of themselves they are going to think the president. romney needs to demands that he has a better economic answers. >> president when i%, mitt romney 40%. what is it going to take to take north carolina, the state of my birth. >> it is a state, if our member correctly, that president obama beat john mccain by 14,000 votes. a very narrow. in an election where obama won the country by 5.5 or six points. north carolina is tied. and i suspect that it is. that is very bad news for the romney campaign. it should ultimately go to the gop. the bottom line on the minorities, young people, that are pushing obama of where he is. gerri: why can't mitt romney connect and make his point in a clear way that people really
6:24pm
understand. as doug says, i know he has a plan that is just not saying monday's. >> well, i think there are factions within the campaign. one theory is that you just need to prove he's a nice guy. they are already stories of terrible acting is done in good works that haven't been talked about, but there is another faction the things we need to make the affirmative case. and accusing paul ryan really shows that that's what romney wanted to do. the convention is still sending a mixed message. gerri: you mentioned the money. not just raising 114 million, romney 111. obama coming back your, the republicans have been leading in fund-raising. when you think of a? >> is obviously good news for the white house. but there is an implication that hasn't been discussed. the president can hold a three or four or five-point lead over romney. that lead widely be for the president. there is a lot of money sitting
6:25pm
on the sidelines waiting to see who the winner is and i will go to the president at the polls and advantage they worded. >> remember where we were months ago when president was going to bury the republicans by raising a billion dollars in money. here you have, you know, he barely edges out romney and it's big news. look, i think this election is going to snap back to the very close race for. the unemployment rate is still about 8%. they can't talk about the key signature initiatives of this guy's administration, health care common stimulus with any confidence because they are very deeply unpopular. i expect this thing to settle back down to about 1% raise. gerri: thank you for coming on tonight. we really appreciate your time. okay, the candidates are back on the campaign trail and the other big story today. congress is back in session but only for a few weeks. fresh off a vacation that you didn't get the data. lawmakers face a slew of deadlines before the budget ends september 30. a six-month spending bill to
6:26pm
finance the day-to-day operations. it would give them time to fashion a spending plan and avoid a government shutdown before election day. more challenging is a leftover piece of business from earlier this summer. the five-year farm bill. it would also fund the food stamp program which now enrolls a record 46.7 million people and also includes drought stricken farmers and livestock producers. congress will once again kick the can down the road, that is what they do best. with a temporary extension of the bill and it wouldn't be an election bill without political votes. for example, new york senator chuck schumer wants a procedural vote on paul ryan's budget plan. the democrats instead this will help his party in november because it has no chance of passing. on the republican side, there will likely be a vote in the house on friday on the no more solyndras that. this bill faces other doe loans and contribute to a massive
6:27pm
taxpayer-funded loan to solynda. once again, it has no chance in the democrat controlled senate. as i mentioned after next week, both house and senate will likely be on vacation. again. i'm sorry, mcauliffe campaigning. that's right. the rest of the items will be pushed into the lame-duck session. including taxmaggedon. if not, we are heading over the fiscal court. thus, we also have to deal with performing the postal service, which is focused to vote on another $5.5 billion payment. that's a lot for a senate that only has 72 days left in a house that has 32 days left. is it a wonder that they only have a 10% approval rating? coming up, find out what health care is front and center in the campaign again. and a conservative answer to michael moore. the man behind the film "2016",
6:28pm
"obama's america." dinesh d'souza joins me next. everyone has goals.
6:29pm
take the steps to reach yours, with us with real advice, for real goals. the us bank wealth management advisor can help you. every step of the way. from big steps, to little steps. since 1863 we've helped guide our clients,
6:30pm
so they can take the steps to help grow, preserve, and pass along their wealth. so their footsteps can help the next generation find their own path. all of us serving you. us bank
6:31pm
gerri: this election all comes down to one question. can america survive another war years of president obama? our next guest says no way. reducing our shining city on a hill. dinesh d'souza, writer and director of the film "2016" and the book on making the american dream. the marketing behind your documentary, now the number two documentary of all time, you say that you love and hate him, you
6:32pm
don't know him. how is it possible after nearly four years that we don't know this man. >> well, i think there's a lot of questions about obama that have never been answered. some of them have to do with his grades and scores and people he knew, the people he knew in colombia, for example. some of it has to do with his girlfriend's work. in the film, we don't focus on not so much. we focused on a group of obama founding fathers are the people that shaped his mind all the way from the time he was 10 years old until his mid-'30s. that is quite a group. a former communist, a member of the palestine national council, a brazilian socialist. gerri: most important his father. you said he was imperative in establishing their worldview. >> his book was called dreams from my father. he was a third world guide, a kenyan, he believedthat he was
6:33pm
a kind of rogue nation in the world and also hated the capitalist system. he called himself a socialist. his ideology was to shrink america and redistribute money away from the west and away from america toward the rest of the world. gerri: so this is an anti-colonialism point of view, it has been called. is it a stretch to say that barack obama only saw a handful of times or didn't seem to know very well at all, to have that much influence on him? >> sometimes they won't have nothing to do with them. other times, they become assessed with a guy who isn't there. in obama's case, his mother had cultivated the sense that your father is a hero. he is like a mandela or freedom fighter. obama thought he had to be like this guy. to find out more about them, he goes to kenya. we find were obama goes to his father's grave and environs the spirit of his father. gerri: does he try to read his
6:34pm
mind, try to understand who his influences are? >> here is the way to get inside the president's head. to listen to his own worlds. you are listening to obama's own words talking about how the he became the man is what i want to talk about some of the financial implications of what he talked about in the book. you say said that obama, and i'm quoting from a weapons of mass destruction will downsize america, making them sit second-class citizens in their own country. is that happening? >> that is happening. a lot of my convictions about 2016. there is an extrapolation for what is going on. obama isn't that, obama added 5 trillion. another 5 trillion will will occur if he stays in office. $22 million in debt. our children and grandchildren will have to be paid out. that is owed to the chinese, the kuwaitis, the saudi's. you are transferring all the way towards other countries.
6:35pm
it becomes -- that is a way of settling marca scoring of that. gerri: he said at the double standard when it comes to the president's policies on energy. what do you mean? >> obama has been respective about oil in america. a moratorium. so you may think that he is sort of like an al gore environmentalist side. or when you watch them abroad, he is a supporter of oil drilling. in brazil and colombia and mexico. i would save why would someone be for oil drilling over there but not over here and the answer is he's trying to enrich the previously colonized country at the expense of the colonizer, which is us. gerri: that is fascinating stuff. i know you're doing well with the movie. thank you for coming and talking with us. >> it is a pleasure. gerri: which political documentary has the biggest competition? in tonight's top five from the highest grossing films of all time. number five, the film that made michael moore a household name, bowling for columbine in 2002.
6:36pm
the movie made $20 million. and al gore's film, an inconvenient truth. it earned more than $24 million in 2006. number three is michael moore back again, this movie designed to promote universal health care. in 2007 it made $24.5 million. number two is 2016, obama's america. it has earned more than $20 million and still in theaters. the number one highest grossing political documentary of all time is fahrenheit 9/11. this box office smash will likely hold onto the number one spot for a while concerning top $119 million. that is more than the other top six movies combined. still to come from the best rewards credit cards out there for serious spenders. are you using the right one and is mitt romney eating of his opposition to obamacare.
6:37pm
are there good parts to this? one doctor weighs in
6:38pm
the
6:39pm
6:40pm
gerri: a news alert for you. the mayor of trenton, new jersey for his release rmon 150,000-dollar bond. tony mack. along with his brother and another man being part of a
6:41pm
corruption probe. it stems from privately allegations related to a parking garage project in september 2010. authorities say that tony mack and the others took $50,000 with a promise for $65,000 more in the developer. the developer was actually working for the fbi. meanwhile, mitt romney is causing a stir tonight over comments made regarding obamacare. in an interview over the weekend he said that there parts of the law that he will keep if he becomes president. >> i'm not getting rid of all health care reform. there are a number of things that i like in health care reform that i will put in place. one is making sure that pre-existing conditions can get coverage and allow the marketplace to get policies that covers their families up to whatever age they might like. gerri: democrats are beating on us, doctor, it's great to see you again on the show.
6:42pm
you are actually here in person and i love that. would he make of romney's comments? >> he is making honest statements. he has come out and is telling people what he thinks. i think that his comments are okay and i agree with them. there parts of the act that are good and should be. >> well, i think the ability to keep your insurance until the age of 26 will help a lot of people out. i also think the ability to address previously existing conditions is something that most americans want and brinkley is something that needs to be addressed. so those are issues that i think have merit and should be kept in whatever is reconstructed. but whatever is reconstructed has got to come from the bottom up. it can't be a political solution. gerri: that is what we have had today. i want to share with you a rasmussen poll. 51% of folks say yes, it showed
6:43pm
and 41% now, it shouldn't. there's a lot of political support for getting rid of this bill. as you know, it has been evolving. the premiums have gone up under the spell. the promises don't seem to be coming through here. do you think that ultimately romney will get back on the bandwagon of saying that we have to get rid of obamacare? >> i think that he hasn't said he's not going to get rid of the elements of the bill that are offensive. how can you reform health care when you don't deal with tort reform. romney has been very clear about his willingness to include tort reform in anything that he does. he has come out and said so publicly. he has also talked about changing the tax codes so you can have your health care policy for your whole life. he is laid out specific things. >> i think the backdrop that were not talking about his romney care. the fact that he had a plan in place and put forward. for what is essentially a
6:44pm
similar plan to obamacare. let me tell you what mitt romney had to say to this kerfuffle we are discussing. this is a health care clarification from mitt romney's folks. in a competitive environment, it will make available plans that include coverage for what there is demand for. he is not proposing a federal mandate to offer those particular features. now they are breaking it down. trying to make it a little clearer what the candidate was saying. will this be a signature issue for the election this fall? >> i think it should be. we are in a lot of trouble economically. peter are zach zack has written a wonderful piece in july 2011 on foreign affairs saying that if we don't fix this, we are going to lose as a nation. i think it's a very important problem and i think people need to be informed that they are just not. >> can we find common ground that will make sense? at the end of the day, i think
6:45pm
that mitt romney's original plan slicing and dicing it is only confusing. >> that is true. if you say that i don't like the basic plan, i think it should be a free-market plan and not a government-sponsored plan there are elements of the planet is going to be good. you can't say that everything is bad. gerri: sure you can. i think one of the big concerns that is not being addressed in conversation is how much we're going to end up spending for this. the answer is it's going to be more than we expect. >> currently, absolutely. we have gone from 900 million to 171 trillion. clearly come the answer is not the way the law as written. i would not disagree with that at all. gerri: think you were for coming onto my mental. >> nice to see you.
6:46pm
gerri: tomorrow marks 11 years since the tragedy of 9/11. tomorrow's activities will be politician free at ground zero in new york. the names of all will be read. the ceremony will be only about 40 minutes long. it comes at a time when costs for the museum are making headlines. the foundation in charge says the project will cost $60 million a year to operate. that is more than worth harbor in arlington national cemetery combined. usa today pointed out that this has many concerns that the taxpayers will be forced to put some of the bill. some are asking the national park service agency says it can't afford it. one of the reasons for the rising costs of its lead museum. it was such opened last september and still, nothing. now officials are planning for
6:47pm
2014 opening and saying that the money charged for national health cover costs of the operations but no fee has been set yet. still to come, my "two cents more". we may need to switch your spending habits. details are coming up next want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one,
6:48pm
sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana.
6:49pm
6:50pm
6:51pm
you. gerri: in focus tonight, reward cards for big spenders. we recently told her how more and more credit card companies are setting out offers in the mail with huge incentives. here's a look at a few options for you in your wallet. this is the author of the credit card guidebook. bill, it is great to see you again on the show here. let's talk about these rewards cards. a lot of people like using them but they can be expensive if you don't pay on time because they have a higher rate. how do you choose a good card? >> well, what you really want to do is analyze your credit card expenditures from the past years. analyze them by category to see where you have spent your money. then buy gas and supermarkets and dining, and come and take a look at the credit card rewards cards picture, looking to possibly get and take a look at the terms and conditions of those cards and really analyze what you will get based on what you spent last year.
6:52pm
gerri: let's talk about some of your favorite cards are and what are the best deals out there? >> welcome the best deal for me i'd be very different than what it is for you. it depends on personal expenditures and what kind of rewards we really want. whether that is cash or mileage. what you really want to do is analyze the terms and conditions, look at the spending tears that are needed. look at the cashback rewards, look at the categories that they spend on and also the interest rates and the annual rate that might be assessed on accessed on the cards. >> it sounds pretty confiscated. there are concerns out there but the rewards cards are going to go away because of the antitrust settlement with visa and mastercard over interchange fees. is there a threat to the business model because of this? >> there is, especially if you look at what happened with debit card rewards. once the interchange fee got
6:53pm
caught on democrats back on october 1, those that occur towards almost went away entirely. but i don't think that that will happen on credit cards. there are too many people that use a credit card just for the rewards for the issuers know that. i think that they would feel that they would lose too much business if they cut the credit card work entirely. >> as you look back to how these cards were, you have any advice for those shopping for a car? the best records for you on credit cards -- look at the mathematical max on the rewards based on the terms and conditions. then pick the one that is right for you. a rewards card is only did he pay off the balance each and every month on time. >> thank you for coming on tonight. it's great to see you are. >> thank you, gerri. gerri: we will be right back to our answer of the day. is the chicago teachers strike for the kids and the teachers? and my "two cents more" and.
6:54pm
parents and kids alike will want to hear this. don't go away. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade.
6:55pm
6:56pm
so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart.
6:57pm
pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined. gerri: the teachers going on strike after both sides remained too far apart on contract negotiations. the union says the strike is for the kids, but other teachers striking for their own benefit? here are some of the responses on my twitter and facebook page.
6:58pm
we also asked this on gerriwillis.com. interesting. be sure to log onto gerriwillis.com for our online question every weekday. here are the e-mails you are sending us. scott from california asks. can't blame you there, scott. we love hearing from you, send me an e-mail. and finally tonight, generation living in a dream. a new study by td ameritrade
6:59pm
shows nearly 40% of 13-22-year-olds expect to receive an inheritance from mom and dad. they are not saving for retirement. only 16% of parents are planning on leaving their kids any money. why? most of them are saving for their own retirement. they don't think inheritance for kids is a concern. as they come to the realization government may not be there for them in their senior years. kids, mom and dad, and your butt in school. give mom and dad a break for goodness sake. that is my two cents more. i will be joined by one senator who says it is time for rhetoric to meet reality. we are not better off than we were four years ago. joining me tomorrow. that is it for tonight's "the willis report." n'

Terms of Use (10 Mar 2001)